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Sponsors
Senator · Senate District 57
No co-sponsors yet.
History
- Referred to cities
- Referred to cities
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3748
Title of bill
An act to amend chapter 4 of the laws of 2013 amending the real property tax law relating to exemption from taxation of alter- ations and improvements to multiple dwellings to eliminate fire and health hazards and a partial abatement of real property taxes for condo- miniums and cooperatives, in a city having a population of one million or more, in relation to making a technical correction thereto
Purpose
This bill would allow 421-benefits for a block and lot located partially within a FAR (Floor Area Ratio) 15 zone in Manhattan.
Summary of provisions
This bill adds an additional block and lot to the provisions of Chapter 4 of the laws of 2013 allowing for 421-bene- fits.
Justification
Lot 45, Block 78 is bordered by Fulton, Nassau, Dutch, and John Streets and is split between two zoning districts, C6-4 and C5-5. The C6-4 has a base FAR for residential and commercial of 10 and the C5-5 has a base of 10 for residential and 15 for commercial. Because a sliver of the lot is in a FAR 15 district it is disqualified from 421-a benefits. 120 Fulton Street is part of a larger residential development which includes 112, 114, 116, 118 and 120 on the south side of Fulton Street between Nassau and Dutch in lower Manhattan. Inclusion of this block and lot in the provisions of Chapter 4 of the laws of 2013, of which less than 200 of the lot falls into the prohibited zone, will allow for a smaller scale development which will be of benefit to the surrounding community.
Legislative history
New Bill
FISCAL IMPLICATIONS:None.
Effective date
This act shall take effect in the same manner as Chapter 4 of the laws of 2013.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.